Operations Management Chapter 15, 16, 17, 18, & 19
A product that is designed to serve multiple functions and/or multiple customer segments.
The practice of using a single product to serve two demand segments that were previously served by their own product version.
Also known as yield management. The set of tools used to maximize revenue given a fixed supply.
The propagation of demand variability up the supply chain.
A cause of the bullwhip effect. This described the situation in which two or more firms submit orders at the same moments in time.
A cause of the bullwhip effect. A firm order batches when it orders only in integer multiples of some batch quality.
A temporary price discount off the wholesale price that a supplier offers to its retailer customers.
the practice of inducing retailers to carry more inventory than needed to cover short-term needs.
An inventory policy in which demand triggers the ordering of replenishments,
If a retailer purchases a large quantity during a trade promotion, then the retailer is said to forward buy.
Firms that practice diversion.
The practice by retailers of purchasing product from a supplier only to resell the product to another retailer.
Efficient Consumer Response
The collective name given to several initiatives in the grocery industry to improve the efficiency of the grocery supply chain.
Vender-Managed Inventory (VMI)
The practice of switching control of inventory management from a retailer to a supplier.
A contract in which a supplier agrees to purchase leftover inventory from a retailer at the end of the selling season.
An operations paradigm built around the idea of not depleting or destroying scarce resources, including the atmosphere, water, materials, land, and people.
Business Model Innovation
A substantial shift in a firm’s business model either relative to others in the industry or to its previous practice.
A novel match between a solution and a need that creates value.
The firm’s ability to provide consumers with the product or service they want or need.
Measures how easy it is to do business with a firm.
Name the first 3 resources